NorthCrest Asset Manangement LLC Has $4.84 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

NorthCrest Asset Manangement LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 36.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,989 shares of the electric vehicle producer’s stock after purchasing an additional 3,224 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Tesla were worth $4,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla during the fourth quarter worth approximately $56,600,000. Stephens Consulting LLC lifted its stake in Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock worth $644,000 after purchasing an additional 891 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. lifted its stake in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after purchasing an additional 1,629 shares during the last quarter. Harvard Management Co. Inc. bought a new stake in Tesla during the fourth quarter worth $8,158,000. Finally, Vontobel Holding Ltd. lifted its stake in Tesla by 23.0% during the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $356.90 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $284.09 and a two-hundred day moving average price of $333.75. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a market cap of $1.15 trillion, a P/E ratio of 174.95, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and set a $500.00 target price (up from $350.00) on shares of Tesla in a research note on Friday, May 23rd. JPMorgan Chase & Co. cut their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft cut their target price on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $430.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $293.97.

Insider Activity

In other news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the completion of the sale, the chief financial officer now directly owns 23,084 shares in the company, valued at $6,833,325.68. This trade represents a 20.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 415,623 shares of company stock worth $116,650,831 in the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.